Pinnacol - Auditing Your Policy

149082 Resource 147685 147761 147761 1163783154376 1164644727522 Controlled How to Prepare for a Workers Compensation Audit

How can I make a work comp audit easy?

StaffScapes recently received a brochure from our Workers compensation provider Pinnacol Assurance. It got me thinking about the time we spend preparing for our Audit for all our clients. In a normal year we spend over 60 hours preparing ever year for our audit. Over the years we have we have fine tuned how we go about it and we always have a few suggested documents ready and available for the Audit. The suggested documents to have ready are:Unemployment Insurance Tax Reports (UITRs)941 Federal Tax returns.Payroll records for the audit periodAll subcontractor paymentsProof of Workers' Compensation for subcontractorsAnother thing to keep in mind is Overtime pay. Comp payments are not calculated on the full overtime pay rate. So it is a good idea to have detailed records of all overtime payed to employees during the audit period. This can save a company money by having good payroll records. The second and for some builders and companies that use subcontractors is proof of coverage from that Sub or contractor. If you can not track down proof of coverage for the time the contractor worked for you, you can be liable for the work comp premium. Most contractors have a policy so make sure you request it from them before work begins.The above are just a few of the steps that StaffScapes takes in preparing for a Audit. As a Professional Employment Organization, PEO, we can show you how our programs have helped businesses like yours save thousands.  We can be reached at 303-549-1860 or <a title="mailto:info@StaffScapes.com" href="mailto:info@StaffScapes.com">info@StaffScapes.com</a>. 9 application/xml false Overtime pay PEO Pinnacol assurance UITR Unemployment insurance work comp worker comp Workers compensation Audit Pinnacol - Auditing Your Policy Recommended Audit information by Pinnacol Assurance http://culebra.pinnacol.com/employers/documents/AuditWEB.pdf Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; .NET CLR 1.1.4322; .NET CLR 2.0.50727) 127.0.0.1 127.0.0.1 jimt false true false false true 147685 blog blogsite/StaffScapes/web